MA Financial Group Limited FY23 Full Year Results Announcement

MA Financial Group reported a record annual gross fund inflow of $1.94 billion for FY23, marking a 27% increase from FY22.

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MA Financial Group Limited FY23 Full Year Results Announcement

  1. MA Financial Group reported a record annual gross fund inflow of $1.94 billion for FY23, marking a 27% increase from FY22.

  2. Assets under management (AUM) grew by 18% to $9.2 billion, and recurring revenue increased by 23% to $178 million.

  3. The loan book experienced significant growth, with a 150% increase to $983 million, largely driven by MA Money.

  4. Despite strong growth in recurring revenue and fund inflows, underlying revenue decreased by 11% to $270 million, and underlying earnings per share (EPS) dropped by 32% to 26.0 cents.

  5. The company maintained a fully franked final dividend of 14 cents per share, with a full-year dividend of 20 cents per share, consistent with FY22.

  6. Strategic investments in growth initiatives, including expanding into the US Private Credit business and opening new distribution channels in Singapore and Japan, had a 5 cents per share negative earnings impact in FY23.

  7. Asset Management was the major contributor to EBITDA, despite a decline in performance fees and lower realized gains on investments.

  8. Finsure managed loans grew by 21% to $110 billion, and MA Money's loan book grew by 244% to $829 million.

  9. Corporate Advisory & Equities (CA&E) EBITDA decreased by 51% due to challenging market conditions.

  10. The company has a strong capital position and continued to invest in strategic growth initiatives, expecting to impact FY24 earnings by 6 cents per share.

  11. Post balance date activities indicate continued business momentum, including significant fund inflows and strategic acquisitions.

This announcement is a summary of the company approved ASX announcement on 22/2/2024.